How to Choose a Property Management Company

By Ashley Dietz Gray / Published May 2024

No two communities are identical; each community has various factors which influence what type of management will most effectively help them accomplish their goals. Some of these factors include the availability of resources and the complexity of the community itself.

     The following are factors which influence the type of management your community needs:

• Community size and complexity—Generally the larger the association and the more diverse the services it provides for its residents, the more sophisticated the management solutions and required skills that will be needed to manage it effectively.
• Financial resources—The smaller the available funds in an association’s budget, the less complex the management solution needed.
• Availability of volunteers—The less the owners are willing or able to volunteer time to carry out administrative functions, the more contractual talent will be required of the management company.
• Services and amenities—The greater the number, variety, and complexity of association services and amenities, the greater the administrative burden.

Photo by iStockphoto.com/Epiximages

     When the board understands what factors influence their community’s needs the most and have established an understanding of the current costs of operations, the process of finding the right management company begins. Define your requirements and identify qualified management companies to ask for a bid.

     Make sure to define the criteria most important to you in the selection process. Selection criteria examples to consider include these following items:

• Reputation/feedback from references in the area—Can you trust this company to do what is best for your community? How long has the company been in business? Does the company have nearby clients or references from similar communities?
• Contract flexibility—Will you be locked into an agreement that won’t allow changes? Does the company bait you into a long-term contract by offering an initial discount?
• Customization—The complexity of a community directly correlates with the level of experience needed by management and staff to help accomplish the community’s goals.
• Quality of the people—Look beyond the sales team to understand the quality of people in the company. How does the company hire, develop, and retain employees?
• Ongoing support—What type of support does the management company offer their property managers? Do they receive ongoing support and training? What systems does the management company have in place to help their property managers be successful at properties?

     If you allow the community manager to manage, the time involvement from your board and/or their appointed committees is significantly reduced. Remember, as the board of directors, one of your main functions is to direct and advise your management company. The many hours per week involved in accomplishing property tasks will be the responsibility of your new management company and its staff. 

Ashley Dietz Gray

VP Marketing, Campbell Property Management

     Ashley Dietz Gray has been handling the marketing at Campbell Property Management since 2013. She is a native Floridian who shines at building relationships and getting things done with a positive attitude. Ashley graduated summa cum laude from Florida Atlantic University with her bachelor’s in communications. She has always believed “knowledge is power” and has made it Campbell’s mission to offer free education through in-person events, webinars, and their blog, Florida Association News (FAN), to board members and property managers of condominiums and HOAs throughout Florida. Ashley has worked hard to spread the word about FAN, which currently has over 19,000 subscribers. To check out FAN and access all of Campbell’s past and upcoming webinars, visit ReadFAN.org. For more information, call 954-427-8770, email contact@CampbellPropertyManagement.com, or visit  www.campbellpropertymanagement.com.